China’s domestic stainless steel prices have either moved sideways or increased slightly during the past seven days.
Global nickel prices have decreased during the past week. On January 10, the three-month nickel price at the London Metal Exchange (LME) closed at $27,270/mt, while LME nickel inventory on the same date totaled 54,312 mt.
Overall trading activity in the domestic stainless steel market has been slack in the past week, especially as most traders and downstream buyers are already leaving the market ahead of the Chinese New Year holiday. As for the week ahead, considering that demand may be slackening ahead of the holiday, it is believed that stainless steel prices may follow a stable trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
2,051 |
0 |
+41 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,100 |
1,343 |
0 |
+27 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,100 |
2,671 |
+150 |
+75 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,550 |
2,590 |
0 |
+51 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,400 |
1,240 |
+100 |
+39 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,151 |
0 |
+23 |
13 percent VAT is included in the above prices.
$1 = RMB 6.776